MILAN (Reuters) – Bank of Italy Governor Ignazio Visco warned on Saturday of downside risks to the central bank’s forecast for economic growth after the country slipped into a recession in the fourth quarter.
Italy’s gross domestic product (GDP) contracted for a second consecutive quarter at the end of 2018, throwing the country into a “technical” recession, its third in a decade, and raising speculation that Rome may need further budget measures for this year.
Bank - Italy - Growth - Projection - Percent
The Bank of Italy’s latest growth projection for 0.6 percent GDP growth, published in January, is “in line with those of the leading national and international forecasters, but with significant risks on the downside,” governor Ignazio Visco told the Assiom-Forex banking conference.
The Italian anti-establishment government, which took office in June last year, was quick to blame its center-left predecessors for the latest GDP slump.
Deputy - Prime - Minister - Luigi - Di
Deputy Prime Minister Luigi Di Maio said the data “certified the failure of the entire political class which Italians sent packing” at last year’s election.
Italian government currently targets a GDP growth of 1 percent this year.
Economy - Minister - Giovanni - Tria - Month
Economy Minister Giovanni Tria said last month in Davos, before latest GDP data were released, that Italy will...
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